Paramount Global (NASDAQ:PARA) Declares Quarterly Dividend of $0.05

Paramount Global (NASDAQ:PARA) announced a quarterly dividend on Monday, February 24th, Wall Street Journal reports. Investors of record on Monday, March 17th will be paid a dividend of 0.05 per share on Tuesday, April 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, March 17th.

Paramount Global has decreased its dividend payment by an average of 40.7% annually over the last three years. Paramount Global has a payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Paramount Global to earn $1.53 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 13.1%.

Paramount Global Trading Up 1.6 %

Shares of PARA stock traded up $0.18 during trading hours on Monday, hitting $11.67. The company had a trading volume of 12,168,907 shares, compared to its average volume of 9,095,759. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The company’s fifty day moving average is $10.75 and its 200 day moving average is $10.71. The stock has a market capitalization of $7.78 billion, a PE ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.69. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Macquarie reissued an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Morgan Stanley lifted their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.58.

About Paramount Global

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.